The quality of my trading owes much to my nemesis Jack Hershey and to my dear friend Spydertrader. They both know that I am constantly striving to find ways to improve the profitability of their SCT-Full and SCT-Lite. Therefore I am pleased to add to the growing list of trading Undicators an exciting new study showing when to trade and when not to. I have high hopes that this will dramatically reduce the random entry issues with their methods. I call this Undicator Volatoilety, to commemorate recent events in the markets. And before you laugh, or cry, look at it carefuly. Today I am dead serious, but tomorrrow I may be seriously dead. So respect my legacy. I leave it as an exercise to the brilliant and supportive SCT community to determine the optimum threshold and to convert this into a stoplight study. All my best to you, dear SCT friends!
Of course, with an undicator name like volatoilety, you expose yourself to the risk of being called full of shit. I note, however, that it identified a bottom quite nicely.
M. Chien-qui-Tonne, I had hopes that such a sobriquet would be applied to my intended audience, instead. This from a friend? What will my enemas say? I reveal this new Undicator with great caution, because not only is it an improvement to my previous version, Volataility, but it marked the midpoint of my progress toward a truly useful Stoplight In/Out volatility study to supplement my fabulously useful volume Stoplight study. But my generosity toward the SCT community overcame any fears that it might actually be put to use. Over the years here I have seen little evidence that ET pays any attention to me, even when I tell it exactly how to trade profitably. As always, my contributions to ET are an IQ test.
Perhaps you misunderstood. I would certainly not label your efforts derogatorily. If anything, I would submit that your new undicator captures the very essence of current market conditions. While others may put on airs, you deliver substance.
Remind me never to debate with you. I am to you as Hillaire is to Babak. If the SCT cummunity is sufficiently appreciative of my concerns for their welfare, and takes my love offering to heart, I shall share with them a Stoplight tool I developed specifically for SCT which unequivocally pinpoints reversals and is always in.
Thank you, my (straight) man! Should I choose to reveal it, SCT-Stop-Lite is an absolutely unequivocal method to identify highs to reverse short and lows to reverse high so that an SCT trader may stay in the market continuously, even overnight, if he can abide the spread. I have achieved this simplification by inventing SCT-Fat-Free, which eliminates volume as an ingredient. It gives you only what you want and need: pure price.
Sounds intriguing. Although I question my ability to always remain in, perhaps as a factor of age, the otherwise unencumbered nature of your fat-free approach holds a fair amount of appeal. Also, while lines on a woman may add to her charm and give character to her appearance, they don't do a chart any justice and make the markets look mean, wrinkled and bent on revenge.
I do keep up a very slender little volume study that suggests to me when I should stand aside because volume is too thin, lest I make marketmakers' wallets too fat. But generally I go by pure price action relative to probable S/R, the more confluent the better. I love identifying way beforehand where the SCT crowd is going to get excited about points 1/2/3, FTTs, BOs, FBOs, etc.
Duref Mudgins had me design this attached system for Downs Syndrome traders. It worked so well that he announced our plans to test it on other primates. I can preview for you now the system we are marketing as MonkeyTrader. As you can see, it is small enough to run and display on an iPhone. As it is a three bar scalping system running on one-minute data, we found that orangutans are too slow to trade it, and chimps just laugh at it and try to eat the iPhone, but capuchins have just the right eye-hand quickness and high-strung personality it takes to scalp successfully. We are in the process of installing these in zoos around the country to defray the costs of primate habitats. We plan next to try it for elephants, who like human scalpers, are used to working for peanuts. Client confidentiality is guaranteed to any ET monkeys who would care to try it out.